Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Knuedge / Knu Verse Marketing Plan
Marketing Mix
Product
Product strategies play a significant role as product offering gives a fundamental reason as to why the consumers ought to select the company compared to rival companies. These encompass the consumer preferences from the product offering and the needs it satisfies (Ferrell and Hartline, 2014). The product offerings from Knuverse are easy yet powerful, secure yet integratable as well as accurate yet flexible. In particular, the products offered by the company are built on voice technologies that are relied upon by the most demanding military consumers (Knuverse Website, 2016).
Pricing
Pricing strategies play a pivotal role in the marketing mix taking into account that, ultimately, this accounts for the revenue generated by the firm. Therefore, in the end, pricing can influence a business' success or sinking. More so, pricing is not a sole idea but rather a manifold one with various implications for the manufacturer, the intermediate, and the end-user consumer (Kotler et al., 2009). A key strategy used by Knuverse is competition pricing. In the contemporary, companies in the technological realm are facing a great deal of competition, particularly with the advancement of technology. Fundamentally, Knuverse has to ensure that the pricing of its products is competitive with respect to rival firms in the marketplace. Bearing in mind that the product offering has distinctive features, this will make the company become largely competitive. What is more, this will serve as an entreaty to entice more consumers. Nevertheless, the company will be ardent on making certain that its product...
This is because consumers tend to relate such prices to products of low quality (Boone and Kurtz, 2015). Another significant pricing strategy that will be employed by Knuverse will be product line pricing strategy. The company plans on entering other fields and areas such as banking and manufacturing aside from the military field. Therefore, the consumers that purchase all products for its system, such as Audio PIN, Active, DNA and Background will be granted cheaper prices compared to those procuring simply one product (Ferrell and Hartline, 2014; Knuverse Website, 2016).
Promotion
Promotional strategies take into account making certain that consumers everywhere recognize the brand of a company. This approach also serves as a way of attracting new consumers. The following are some of the strategies for promotion that will be utilized by Knuverse.
Advertising
These strategies will be long-term and purposed to not only increase sales, but also build the company's brand name. Knuverse will make use of magazine advertisements, announcements on the radio and television as well as scripted commercials (Hose, 2016).
Promotion
These strategies are temporary and immediate. Some of the promotion strategies that will be used by Knuverse include printed information and giving consumers a trial period…
References
Boone, L. E., Kurtz, D. L. (2015). Contemporary Marketing 17th Edition, Boston: Cengage Learning.
Ferrell, O. C., Hartline, M. (2014). Marketing Strategy. Ohio: South Western Cengage Learning.
Hose, C. (2016). Difference Between Advertising Strategy & Promotion Strategy. Chron.
KnuVerse Website. (2016). Products. Retrieved 28 August 2016 from: https://www.knuverse.com/products/
All that Ms. Chang would do is to apply for the patent protection and then franchise a local company to manufacture the CAD system with full assurance that the product will be right protected and the business will still have the same business profits as it is in Singapore. As a matter of fact, the machine, being so sophisticated will require importation of skills and manpower from the Singapore mother
International Marketing In many ways, domestic marketing and international marketing are similar. They are based on the same fundamental principles of using price, product, place and promotion to craft appeals to customers that will enhance sales. There are certain facets of international marketing, however, that are slightly different. Marketers need to be aware of what these similarities and differences are. In terms of similarities, the fundamental things that a company must pay
International Business Model I International Business Model: eBay In order to understand the international market and what eBay has to offer in that market, it is important to discuss the company in light of the 4 Ps (product, place, promotion, and price). That can provide a better understanding of why eBay failed in some Asian markets and why it struggled for some time before seeing success in others. While eBay is a
International expansion is one of the growth strategies that are embraced by companies in order to improve their bottom-line/profitability. In this paper, we present an elaborate international marketing strategy for Red Bull energy drink. The marketing plan begins with an introduction into the concept of international expansion and marketing and a brief overview of the company. A review of the main conclusions and recommendations is then presented. This is then
International Marketing of the Winter Olympics Properly planned and executed, hosts of the Winter Olympic Games stand to gain a great deal in terms of investments in infrastructure, the multiplier effect of travel and tourism, and the enhanced prestige on the global stage that goes hand in hand with hosting these international games. Improperly administered, though, hosts and corporate sponsors of the Winter Olympic Games are faced with some staggering economic
" (Veeramani, 2004) Stated as contributors to the export success of China are those as follows: 1) Favorable exchange rate; 2) Low wages; 3) Availability of labor; 4) Large domestic market; 5) Huge volume FDI inflows etc. (Veeramani, 2004) India is not far behind except the gap existing in the FDI volume into China and India, which remains a large gap. The FDI for India has been of much less importance as compared to China except in